Bitcoin Global News (BGN)
May 02, 2018 -- ADVFN Crypto NewsWire -- If Peter Thiel has his
way, who knows how much we’ll have to worry about being tricked out
of our hard earned fiat by crypto-scams, in the near future.
Thiel’s venture capital firm, Founder’s Fund is betting on big-name
investors moving into the crypto
world.
Founder’s
Fund’s foray into crypto-firms has reportedly begun
with its investment into a small startup named Tagomi. According to
the Wall Street Journal and other sources, Tagomi aims to be the
crypto-world’s version of what is commonly called a
broker-dealer.
If you don’t already
know, a broker-dealer
is simply one person or one firm that is licensed
to buy and sell securities and can act as a trader for its own
account as well as a dealer for stocks that its clients want. Thus,
if one chooses the same stocks that such a firm invests its own
funds in, then one can effectively be invested in a broker-dealer
just like in a hedge fund.
Tagomi, therefore, aims
to bring Wall
Street knowledge to the crypto world in that it
wants to be the go-to firm for family offices, sole, accredited
investors and perhaps more importantly, institutional investors,
who want to invest in crypto in a fashion that is more akin to
investing in the stock market.
Even though Tagomi is in its early
stages as of yet, it can reasonably be said that this means that
Tagomi aims to essentially follow stock-market level regulations to
the letter, if clear regulations end up being set
up.
Despite Tagomi apparently being its
first publicly reported investment in a crypto firm, according to
NewsBTC, this is not Founder’s Fund’s first time investing into a
cryptocurrency. Sometime last year, Founder’s Fund publicly
reported that it was managing around $3 billion in Bitcoin,
already.
Although this investment has just
begun and Tagomi hasn’t truly gotten off the ground yet, if all
goes well, this could be the push that crypto needs to become
widely accepted by Wall Street and later, more traditional
investors. If all of this works out as well, then the more reticent
common man might just follow suit.
https://www.ccn.com/peter-thiels-founders-fund-backs-crypto-broker-founded-by-goldman-sachs-alum/
By: BGN Editorial Staff